The global sports medicine market is anticipated to hit $11.6 billion by 2024, according to a Grand View Research report.
Here are six observations:
1. The market growth is due to an increasing prevalence of sports-related injuries.
2. Body reconstruction and repair devices account for a significant market share and will see solid growth between 2015 and 2024.
3. In 2015, the knee applications segment held the greatest market share, due to the frequent number of knee injuries occurring in sports.
4. Enhanced healthcare infrastructure and high healthcare expenditure are spurring market growth in North America.
5. The market in the Asia Pacific region will likely grow at a compound annual growth rate of 8 percent to 2024. China and India will lead this growth, due to increasing disposable income and investing market players.
6. Stryker, Arthrex, ArthroCare, Tornier, Wright Medical Technology, DJO Global, Otto Bock Healthcare, Ossur HF, Zimmer Biomet and Smith & Nephew lead the market space.